Cryptocurrency

In a statement made at the Bitcoin MENA conference in Abu Dhabi, Eric Trump projected that Bitcoin’s value will eventually climb to $1 million. His remarks come as the cryptocurrency recently surpassed the $100,000 mark for the first time last week, though it has since adjusted to a current trading price of $98,049. The increase in value represents a significant jump from the $69,374 price point on Election Day.The conference highlighted the ongoing conversations surrounding the incorporation of cryptocurrencies into the global financial system. Eric Trump took the opportunity to commend the efforts of his father, Donald Trump, in creating a regulatory environment in the United States that could potentially lead the world in cryptocurrency regulation.The sentiment aligns with the recent political developments, as President-elect Donald Trump has been actively advocating for a crypto-friendly administration. In line with this stance, last week, he nominated Paul Atkins, a former SEC commissioner during George W. Bush’s presidency, to become the next chair of the Securities and Exchange Commission. Atkins is known for his critical views on excessive market regulation, which he has expressed since his departure from the SEC.Eric Trump’s confidence in Bitcoin’s future growth and the nomination of a new SEC chair with a history of advocating for less stringent market regulations point to a continued interest in fostering an environment conducive to the growth of cryptocurrencies in the U.S. financial landscape.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

CryptoAutos, the world’s first blockchain-powered luxury automotive marketplace, has announced the Token Generation Event (TGE) for its native utility token, $AUTOS, scheduled for 11th December 2024 at 12 PM UTC. This event represents a significant development in CryptoAutos’ efforts to enhance the ownership and interaction of high-value assets through blockchain technology.$AUTOS will launch at a fixed price of $0.04, representing a fully diluted valuation (FDV) of $40 million. The token will be available on the Uniswap DEX and multiple CEX’s; KuCoin and Gate.io, ensuring wide accessibility for the global community.Community Launch Achieves $4.5 Million in a Matter of HoursThe TGE announcement follows a successful Community Launch on Fjord Foundry, which raised $4.5 million in just 5.5 hours, with participation from 1,710 $AUTOS buyers. This strong demand reflects interest and trust in the CryptoAutos ecosystem, which combines blockchain innovation with the exclusivity of luxury automotive ownership.Token Claims and Airdrop Distribution DetailsPublic sale participants can claim 100% of their tokens upon TGE through CryptoAutos’ simple claiming process. Detailed instructions are available in the official guide.For winners of the $AUTOS airdrop, Tokens will be automatically airdropped to the wallet connected during the Telegram game as soon as TGE goes live.The Utility and Vision of $AUTOSThe $AUTOS token is integral to CryptoAutos’ blockchain-powered platform, providing a seamless, secure, and efficient way to engage with high-value assets. It facilitates;Key Details for the TGEAbout CryptoAutosCryptoAutos aims to redefine mass adoption in Web3, with a proven track record of $58M in crypto car sales, 180,000 monthly site visits, and over 120,000 whitelisted users. As a leading global automotive marketplace and Real-World Asset (RWA) platform, Crypto Autos bridges Web2 and Web3 by adding real-world utility to digital assets. Through partnerships like TON and BNB, a network of 1,500+ partnered dealerships, and exclusive $AUTOS token utilities, Crypto Autos enables seamless crypto-to-fiat transactions, fractionalized supercar ownership, and AI-powered vehicle insights. The platform is poised for significant growth by leveraging an expanding user base and unique innovations to unlock the future of mobility and crypto investment.For more information, users can visit the links below;This article was originally published on Chainwire More

With the market hitting a key liquidation zone, he said it was game over as stop-losses were triggered in a chain reaction. The overheated market saw funding fees surge, with Open Interest (OI) also soaring as traders took new positions.After this scary sell-off, strong buying pressure reemerged on Ethereum. Traders saw ETH as a safe bet as the coin has a rather smaller drawdown when compared to Bitcoin. The price of XRP dropped by over 12% to as low as $2.06 in the broad-based sell-off. The analyst said XRP still has thin liquidity, thus impacting its spike potential. Amid the sell-off, Cardano (ADA), USDC and FDUSD recorded an insane boost in volume.According to Ash Crypto, the liquidation must have wiped out “weak hands” and allowed smart money to buy the dip at a discount. Ultimately, he projected that the coin’s price is bound to “snap back quickly.”The market still has the right anchors that helped it grow over the past few weeks. MicroStrategy made a big $2.1 billion Bitcoin purchase this week, proof of strong institutional presence on the market.Experts are predicting a swift recovery for the market, with Robert Kiyosaki advocating that people should buy Bitcoin now.This article was originally published on U.Today More

In a landmark event for the tech and cryptocurrency sectors, Microsoft (NASDAQ:MSFT) shareholders are set to consider an unconventional proposal today that could integrate Bitcoin into the company’s financial strategy. The National Center for Public Policy Research’s Free Enterprise Project (FEP) has presented Proposal 5, which urges Microsoft’s Board of Directors to diversify their balance sheets by adding Bitcoin. This move is seen as a hedge against inflation and a step towards preserving shareholder value amidst rising prices and low yields from corporate bonds.Michael Saylor, the Chairman of MicroStrategy and a vocal proponent of Bitcoin, is representing FEP to advocate for the proposal at Microsoft’s annual shareholder meeting. This virtual event is scheduled for today at 8:30am PT. Saylor, who has a substantial following online, promoted the presentation last week and has since engaged in discussions on CNBC and Fox News to drum up support for the proposal.The rationale behind Proposal 5 is the belief that Bitcoin serves as an effective inflation hedge, surpassing the performance of traditional assets like bonds, which currently yield returns below the true inflation rate. FEP contends that ignoring Bitcoin could be detrimental to shareholder value and advises that companies should at least consider allocating a portion of their assets to the cryptocurrency.FEP’s mission is to redirect corporate focus towards generating revenue for shareholders rather than engaging in political activities. The organization asserts that nearly all American corporations, Microsoft included, have not sufficiently addressed the devaluation of corporate assets due to inflation. FEP regards Bitcoin as the most resilient asset against inflation and proposes its adoption to solve this issue. Furthermore, FEP believes that true free enterprise requires stable, tamper-proof currency that is not subject to political influence, a role they argue Bitcoin can fulfill.The National Center for Public Policy Research, established in 1982, operates as a non-partisan, free-market conservative think-tank. It primarily receives support from individual donors, with minimal funding from foundations and corporations. Shareholders and interested parties can access more details about Proposal 5 through FEP’s ProxyNavigator, available on mobile and web platforms.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

In his tweet, Kiyosaki mostly addressed those who were born in the Baby Boomer generation, like him, since Bitcoin is a completely new and mind-boggling asset for them.So far, Kiyosaki pointed out, boomers have been lucky, namely that in the 1970s they caused the real estate market to boom and the same happened to the stock and bond markets thanks to boomers’ 401k retirement program. However, in the 2020s, per the “Rich Dad Poor Dad” author, “BOOMER’s old age will cause real estate and stock and bond market BUST.”While he was also born in the generation of Baby Boomers, Kiyosaki admits, he does not consider his house to be an asset, nor does he count on the 401k program to provide funds for him during retirement.Kiyosaki’s advice to boomers is as follows: “Before the CRASH that is coming…and buy gold, silver, and Bitcoin now.” The financial guru bets not only on Bitcoin but also on gold and silver.“The biggest crash in history is coming. Please be proactive and get rich,” Kiyosaki tweeted. He made this warning while Bitcoin has surpassed the $100,000 mark for the first time in history.As for 10 years from now, Kiyosaki said he agreed with Michael Saylor in his prediction that Bitcoin will have taken part of the market cap away from gold and reached a whopping $13 million per digital unit by then.This article was originally published on U.Today More

With the imminent arrival of the new U.S. administration, such talk has become more frequent, and although there is no confirmation of its intentions yet, the market is already practicing a possible similar outcome quite powerfully, with Bitcoin gaining over 136% since the beginning of the year and already flashing a six-figure price figure.In the midst of all this, Teng decided to ask his audience what other countries could potentially have a strategic reserve in cryptocurrency.In addition, according to Arkham, we know about another $500 million of various cryptocurrencies in the wallets of the U.S. government. For the most part, all of these assets have been seized as a result of various criminal cases, such as the Silk Road shutdown or the Bitfinex hack in 2016.However, there are also the examples of Bhutan and El Salvador, which own 11,688 BTC, equivalent to $1.14 billion, and 5,960 BTC, equivalent to $579.25 million, respectively. The savings of these countries came from mining and buying Bitcoin on the market.This article was originally published on U.Today More

Bitcoin has surged 27% over the past 30 days, hitting several subsequent all-time highs. After surpassing $100,000 last week, Bitcoin experienced its first “leverage flush” as traders took advantage of the milestone to adjust their positions.Analysts noted that the dip was primarily caused by traders increasing leverage at the $100,000 level, giving bears an opportunity to reduce excessive speculative activity.”Maybe, Bitcoin takes a small ‘holiday breather’ here, before the demand breaks through the $100K wall permanently,” analysts led by Gautam Chhugani said in a note.The world’s largest crypto asset continues to see robust demand from exchange-traded funds (ETFs) and corporate treasury participants, with MicroStrategy Incorporated (NASDAQ:MSTR) leading the charge.MicroStrategy, which has consistently raised equity and convertible debt to acquire Bitcoin, now holds over 2% of the total Bitcoin supply. Its convertible debt stands at approximately $7.3 billion, equivalent to around 18% of Bitcoin’s market value.The convertible debt market for Bitcoin, pioneered by MicroStrategy, is gaining traction among other companies. Major Bitcoin miners such as Riot Platforms (NASDAQ:RIOT) and Marathon Digital (NASDAQ:MARA) Holdings have begun issuing convertible debt to fund Bitcoin purchases.Last week, MARA raised $1 billion in convertible debt at a 40% premium and a 0% coupon. Similarly, Riot announced a $500 million convertible debt issuance to buy Bitcoin.”We believe, the convertible market for Bitcoin is just getting started,” analysts noted. “The leverage levels within miners and MSTR remains fairly low. Both RIOT and MARA have zero to negligible debt levels, as debt markets so far, have been shut for Bitcoin-focused companies.”The firm added that most miners burdened by debt during the 2021-22 cycle have either exited the market or returned in stronger financial shape, with Core Scientific Inc (NASDAQ:CORZ) cited as one example.Analysts believe these developments, combined with ongoing ETF demand, are creating consistent sources of Bitcoin buying that significantly exceed current supply levels. More

The initiative seeks to promote innovation at the intersection of AI and decentralised technologies within the Web3 ecosystem.The fund is designed to support projects developing AI agent solutions with potential applications across industries such as finance, logistics, entertainment, and governance.In addition to financial investment, selected projects will benefit from a range of resources to enhance their development and adoption.These include advisory services, collaborative opportunities with blockchain ecosystems, and up to $100,000 in cloud server credits to facilitate infrastructure scalability and performance optimisation.DWF Labs has stated that the selection criteria will focus on projects with strong potential to drive meaningful innovation and practical industry applications.By targeting initiatives that integrate AI with decentralised systems, the fund aims to contribute to the growth of technologies that are shaping the digital economy.This effort aligns with DWF Labs’s broader strategy to support emerging technologies within the Web3 landscape.The firm’s focus on combining artificial intelligence with blockchain infrastructure underscores its commitment to fostering advancements that enable new applications and efficiencies.“Autonomous AI agents will transform how businesses and individuals interact with technology, from automating complex decision-making processes to unlocking entirely new economic opportunities,” said Andrei Grachev, Managing Partner at DWF Labs in a statement.Through this, DWF Labs reinforces its role in facilitating technological progress and supporting the adoption of AI-driven solutions within decentralised networks.The fund reflects a structured approach to advancing technologies that can influence a wide range of sectors and contribute to the evolution of the digital ecosystem.By focusing on autonomous AI agents and their integration into blockchain technologies, DWF Labs is aiming to drive practical innovation and provide projects with the necessary tools to scale and succeed. More